| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 1,767 | 1,404 | 25.854 | 1,639 | 7.809 |
| Gross Profit (Loss) | 735 | 602 | 22.093 | 626 | 17.412 |
| Operational Profit (Loss) | 464 | 377 | 23.076 | 334 | 38.922 |
| Net profit (Loss) | 486 | 373 | 30.294 | 345 | 40.869 |
| Total Comprehensive Income | 483 | 373 | 29.49 | 345 | 40 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 3,406 | 2,692 | 26.523 |
| Gross Profit (Loss) | 1,361 | 1,146 | 18.76 |
| Operational Profit (Loss) | 798 | 698 | 14.326 |
| Net profit (Loss) | 831 | 695 | 19.568 |
| Total Comprehensive Income | 828 | 695 | 19.136 |
| Total Shareholders Equity (after Deducting Minority Equity) | 4,546 | 3,523 | 29.037 |
| Profit (Loss) per Share | 10.7 | 8.95 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenue increased by 25.85% (SAR 363 million). The increase in revenue resulted from an increase in Digital Business revenue by 24.01%, increase in Business Process Outsourcing revenue by 33.89%, offset by decrease in Professional Services revenue by 2.86%. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The Company achieved a net profit after Zakat of SAR 486 million for the period ended 30 June 2024, with an increase of 30.29% (SAR 113 million) versus the comparative period quarter, as a result of the following: Increase in revenue by 25.85% which led to an increase in gross profit by 22.09% (SAR 133 million). In additions operating expenses increased by 20.44% (SAR 46 million) due to the increase in general and administration expenses by SAR 33 million, increase in depreciation and amortization expenses by SAR 28 million, and increase in selling and marketing expenses by SAR 12 million. Offset by a decrease in expected credit loss by SAR 28 million. On the other hand, non-operating income increased by 110.34% (SAR 32 million), due to the increase in fair value gain through profit or loss by SAR 19 million, increase in income from Murabaha deposit by SAR 4 million, and increase in other income by SAR 16 million. Offset by the increase in finance expenses by SAR 7 million. In addition, there was an increase in zakat expense by SAR 4 million. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue increased by 7.81% (SAR 128 million), The increase in revenue resulted from an increase in Digital Business revenue by 7.26%, increase in Business Process Outsourcing revenue by 9.13%, and increase in Professional Services revenue by 9.68%. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The Company achieved a net profit after Zakat of SAR 486 million for the period ended 30 June 2024, with an increase of 40.87% (SAR 141 million) compared to the prior quarter, as a result of the following: Increase in revenue by 7.81% which led to an increase in gross profit by 17.41% (SAR 109 million). In additions operating expenses decreased by 7.19% (SAR 21 million) due to the decrease in expected credit loss by SAR 32 million, and decrease in selling and marketing expenses by SAR 13 million. Offset by the increase in general and administration expenses by SAR 14 million, and increase in depreciation and amortization expenses by SAR 9 million. On the other hand, non-operating income increased by 38.64% (SAR 17 million), due to the increase in fair value gain through profit or loss by SAR 18 million, and increase in other income by SAR 16 million. Offset by the decrease in income from Murabaha deposit by SAR 14 million, and the increase in finance expenses by SAR 3 million. In addition, there was an increase in zakat expense by SAR 6 million. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Revenue increased by 26.52% (SAR 714 million), The increase in revenue resulted from an increase in Digital Business revenue by 22.24%, increase in Business Process Outsourcing revenue by 44.18%, offset by decrease in Professional Services revenue by 10.96%. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The Company achieved a net profit after Zakat of SAR 831 million for the period ended 30 June 2024, with an increase of 19.57% (SAR 136 million) compared to the comparative period from prior year, as a result of the following: Increase in revenue by 26.52% (SAR 714 million), which lead to an increase in gross profit by 18.76% (SAR 215 million). On the other hand, operating expenses increased by 25.67% (SAR 115 million), as a result of increase in the general and administration expenses by SAR 59 million, increase in the selling and marketing expenses by SAR 30 million, increase in depreciation and amortization expenses by SAR 45 million. Offset by the decrease in expected credit losses by SAR 20 million. On the other hand, non-operating income increased by 61.54% (SAR 40 million), due to the increase in income from Murabaha deposit by SAR 16 million, increase in fair value gain through profit or loss by SAR 19 million, and the decrease in share of loss from associates by SAR 2 million. Offset by the increase in finance expenses by SAR 10 million. In addition, there was an increase zakat expense by SAR 4 million. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | Not applicable |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform to the current period presentation. |
| Additional Information | Earnings Before Interest, Taxes (EBIT) for the period ended 30 June 2024 amounted to SAR 798 million compared to SAR 698 million for the comparative quarter of prior year, with an increase of 14.33%. - The Company will host an Earnings Conference Call with investors and analysts to discuss the H1 2024 Results. The call is scheduled to be on Monday 05 August 2024 at 4:00 PM (KSA time). Shareholders who are registered in Tadawulaty will be notified via text message explaining the process to participate in the call. We are pleased to receive your inquiries by contacting Investor Relations Department through the following channels: Tel: (+966) 112503962 Email: ir@elm.sa |
